10/31/2012 01:39 pm ET

University Of Phoenix Is Google's Biggest Advertiser: Report

One for-profit college is spending a lot of money to make sure that people see its ads.

The University of Phoenix spent the most money on Google Adwords -- roughly $170,000 per day -- in the third quarter of 2012, according to a recent report by Wordstream, an online advertising consulting firm, cited by the Daily Mail.,, and came in second, third, fourth and fifth, respectively.

The for-profit college has faced some hard times recently. Officials announced earlier this month that the college plans to close 115 locations, since its parent company's profits have plunged because of higher costs and falling enrollment at the for-profit college, according to the Associated Press. About 328,000 students are currently enrolled at the University of Phoenix, down from a high of 400,000 students. Enrollment at for-profit colleges has fallen across the country too.

That could be because some people are concerned about taking on student loan debt. The University of Phoenix has a student loan default rate that is nearly twice as high as the average at all universities, according to the Education Department: a problem that has plagued many graduates of for-profit colleges.

The University of Phoenix still is making plenty of money though. Its parent company, Apollo Group, raked in a profit of $52.6 million in June, July and August, down from a profit of $189.7 million during the same period last year.



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